Alight, Inc. (NYSE:ALIT) Receives Consensus Recommendation of “Hold” from Brokerages

Alight, Inc. (NYSE:ALIT) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $52.3333.

ALIT has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Alight in a research report on Tuesday, August 4th. Wall Street Zen raised Alight from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Alight in a research note on Thursday. Citigroup restated a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a research note on Thursday. Finally, DA Davidson upped their price target on Alight from $2.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 2nd.

Alight Trading Down 2.7%

Alight stock opened at $13.40 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.93. The business’s fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $16.50. Alight has a 12 month low of $9.58 and a 12 month high of $82.90. The company has a market capitalization of $361.00 million, a price-to-earnings ratio of -0.17, a price-to-earnings-growth ratio of 0.29 and a beta of 1.61.

Alight (NYSE:ALIT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. The company had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $497.02 million. Alight had a negative net margin of 90.90% and a positive return on equity of 16.05%. As a group, equities analysts predict that Alight will post 4.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. TradeLink Capital LLC bought a new position in shares of Alight during the 4th quarter valued at $25,000. Strs Ohio bought a new position in Alight in the first quarter valued at about $25,000. Renaissance Technologies LLC bought a new position in Alight in the fourth quarter valued at about $26,000. Evolve Private Wealth LLC bought a new stake in shares of Alight during the 1st quarter valued at about $27,000. Finally, Jackson Thornton Wealth Management LLC purchased a new stake in shares of Alight during the 1st quarter valued at about $27,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

About Alight

Alight, Inc (NYSE: ALIT) is a leading provider of cloud-based human capital and financial solutions designed to help organizations and their employees navigate critical life and work events. The company offers a comprehensive suite of services, including payroll administration, benefits enrollment and management, workforce and analytics solutions, health and welfare support, and financial wellness programs. By integrating advanced technology with expert advisory services, Alight aims to simplify the administration of human resources and benefits functions, improve employee engagement and productivity, and drive cost efficiencies for its clients.

Alight’s core platform leverages cloud architecture and automation to deliver scalable and secure solutions that address the needs of mid-sized and large enterprises.